Byju’s, one of the country’s most valuable start-ups and the company has recently filed a suit in the New York Supreme Court.
The star-up company claims that investment firm Redwood had purchased a significant portion of the loan while primarily trading in distressed debt, which was contrary to the conditions of the term loan facility.
“We had to take these steps following a series of predatory tactics by the lenders, led by Redwood,” the start-up said in the statement.
